Banks

Netflix has committed to addressing systemic racism inherent in banking by moving 2 percent of its cash holdings into banks and credit unions that support Black communities, according to a statement released by the company.

SACRAMENTO, Calif. (AP) — Five of the nation’s largest banks have agreed to temporarily suspend residential mortgage payments for people affected by the coronavirus, California Gov. Gavin Newsom said Wednesday. LIKE US ON FACEBOOK. FOLLOW US ON INSTAGRAM & TWITTER. SUBSCRIBE TO OUR YOUTUBE. The announcement came as Newsom provided yet another grim statistic about the economic devastation from the […]

Police in Arlington, Texas are trying to identify a woman they say has robbed three banks. NBCDFW reports, the woman robbed two banks in Fort Worth Monday morning and is believed to have hit another bank in Arlington last week. According to reports, the woman walked into a bank, approached the teller with a note and […]

NEW YORK (AP) — Come January, the banking industry is going to be on Rep. Maxine Waters’ time. With Democrats taking control of the House of Representatives, the California representative is expected to become chairwoman of the powerful House Financial Services Committee, which oversees the nation’s banking system and its regulators. Waters is no friend […]

WASHINGTON (AP) — With emails, tweets and doughnuts, the two dueling acting directors battled for control of the nation’s top financial watchdog agency, the Consumer Financial Protection Bureau, on Monday. Leandra English, who was elevated to interim director of the bureau late last week by its outgoing director, sent staff an email offering Thanksgiving wishes. […]

SAN JUAN, Puerto Rico (AP) — First, Hurricane Maria knocked out power and water to Puerto Rico. Then diesel fuel, gas and water became scarce. Now, it’s money. The aftermath of the powerful storm has resulted in a near-total shutdown of the U.S. territory’s economy that could last for weeks and has many people running […]

Philadelphia alleges that the bank made more than 1,000 predatory loans Black & Latino homebuyers in the city.

University of California professor Raphael Bostic has made history Monday as the first African-American president of one of the Federal Reserve's 12 regional banks.

  Last week, Wells Fargo Bank agreed to pay $185 million in fines and refund customers some $2.5 million. Why? Mellody: It’s pretty straightforward. Some employees at Wells Fargo were caught illegally signing customers up for products – credit cards, deposit accounts, other items – that they had not requested. According to Wells Fargo, the […]

  Tom: This morning you join us to talk about overdraft charges. Mellody: I do, because this is a very big issue many people are confronted with every month. A number of banks hit people with charges or fees when they overdraw their accounts, and in many cases account holders find themselves in a very vicious cycle. […]

NEW YORK (AP) — Soon, losing your ATM card won’t be the financial life-stopping event it used to be. Just don’t also lose your phone. JPMorgan Chase customers will soon be able to withdraw cash or initiate other transactions using their cellphone at Chase ATMs being upgraded later this year. The move will include new […]

Tom: You join us this morning with a very interesting topic today – the unbanked. Mellody: It is an interesting subject, tom, even if it sounds strange. Currently, surveys show that more than 7 percent of households representing some 25 million adults – or roughly 1 in 10 American adults – do not have access to […]